Category Archives: OilGas
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GAIL to tap spot LNG markets to meet surge in power demand
Posted on September 8, 2023 by Diligentia News in OilGas.GAIL (India) Ltd will tap spot liquefied natural gas (LNG) markets to address surging power demand, an executive at the state-run company said on Thursday, as the Indian government calls for more supplies to address an electricity crunch. Much of India’s domestic gas supply is already committed, Sanjay Kumar, marketing director at India’s top distributor […]
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Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December
Posted on September 6, 2023 by Diligentia News in OilGas.Saudi Arabia and Russia agreed on Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. The dual announcements from Riyadh and Moscow pushed benchmark Brent crude above $90 a barrel in trading Tuesday afternoon, a […]
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The G7 Has No Immediate Plans To Review Its Russian Oil Price Cap
Posted on September 6, 2023 by Diligentia News in OilGas.Despite the fact that Russia’s oil is now trading above the G7 price cap due to the oil rally in recent weeks, the group of the world’s top economies and its allies have shelved the regular reviews of the price ceiling, Reuters reported on Wednesday, quoting sources familiar with the matter. At the end of […]
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China’s Influence In Oil Markets Grows With BRICS Expansion
Posted on September 6, 2023 by Diligentia News in OilGas.Piece by piece, China continues to build alternatives to each of the key building blocks of the West’s world order, including – crucially – a new global oil market order, as analysed in full in my new book of the very same name. The latest building block is the invitation to three of the world’s […]
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India does not follow any ideology while procuring crude oil, says HS Puri
Posted on September 6, 2023 by Diligentia News in OilGas.Emphasising that India does not follow any ideology while procuring crude oil, Minister of Petroleum & Natural Gas HS Puri said the government’s “moral commitment” is to the common man by ensuring affordability, availability and sustainability. “Look, the bottom line is we will buy from whomever we have to at the cheapest possible price. There […]
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Asia Oil & Gas Latest: Refining ‘Crying Out’ for Investment
Posted on September 6, 2023 by Diligentia News in OilGas.The outlook for oil prices and Chinese demand, the longevity of OPEC+ supply curbs, and rising flows of Iranian crude are among the key topics at Asia’s biggest gathering of the industry’s traders and executives, which entered its second day in Singapore. Attendees at APPEC by S&P Global Commodity Insights will also have an opportunity […]
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Asian LNG market faces price volatility risks, warns Wood Mackenzie VP
Posted on September 6, 2023 by Diligentia News in OilGas.Mangesh Dilip Patankar, Vice President, APAC Gas and LNG Consulting at Wood Mackenzie, has cautioned that the Asian liquefied natural gas (LNG) market is delicately balanced, and any disruptions in supply or increases in demand could lead to significant price fluctuations. Patankar made these remarks during the Gastech 2023 conference in Singapore, highlighting the uncertainty […]
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Oil on the boil: Why global crude oil prices are rising sharply
Posted on September 5, 2023 by Diligentia News in OilGas.Crude oil prices have been rising sharply across the globe, and it has raised fresh concerns about the impact it will have on the world economy, especially as many nations continue to grapple with high inflation. On Monday, crude oil prices rose further as markets expect major producers to further tighten supplies. Another reason why […]
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Why energy giants like Reliance, Adani, Indian Oil are betting big on the humble biogas
Posted on September 5, 2023 by Diligentia News in OilGas.India is known to be the pioneer of biogas and in an interesting development this green fuel is seeing renewed interest from major India Inc players in the energy sector, according to an ET report. The inception of biogas dates back to 1897 when British civil engineer Charles James initiated the first biogas plant during […]
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Oman sees 13.5% jump in production of refineries, petroleum industries
Posted on September 4, 2023 by Diligentia News in OilGas.The production of refineries and petroleum industries in the Sultanate of Oman increased by 13.5 percent at the end of July 2023, according to a new report. The preliminary statistics issued by the National Centre for Statistics and Information (NCSI indicate that the production of standard grade petrol (M-91) by Omani refineries at the end […]
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